Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Minnesota Fines 2 Insurers for Refusing to Pay Auto Accident Claims
Jul 21 2017 // Minnesota Commerce Commissioner Mike Rothman has fined two insurance companies for violating state consumer protection laws by refusing to pay auto accident claims for damage caused by drivers they insured. In recent...
‘Specialize and Diversify,’ Industry Veteran Markel Tells Super Regional Insurers
Jul 21 2017 // Insurance is a very simple business. “You take in some money, you spend some money and you lose some money, and God willing, you have some left at the end of the day,” according to Anthony (Tony) Markel, vice...
Catastrophes Cost Insurers $22B in 1H 2017; Economic Losses Totaled $53B: Aon
Jul 20 2017 // Global insured losses from natural disasters during the first half of 2017 are estimated at US$22 billion with 76 percent of these losses generated by U.S. events, according to a report issued by Impact Forecasting, Aon...
Florida Insurers Place All Options on Table to Address AOB Abuse
Jul 19 2017 // Florida’s home insurers hope the public doesn’t blame them as they implement rate increases, initiate coverage changes and nonrenew policies. They say they have no choice after the Florida Legislature for the...
Novarica: Commercial Insurers Prioritizing Tech Advancements
Jul 18 2017 // A new report by the research and advisory firm, Novarica, shows that commercial insurance carriers are modernizing policy administration systems and agent portals to support complexities of business. Novarica also says use...
Beazley Launches Dublin-Based Insurer to Write Non-Life Insurance in EU
Jul 18 2017 // Specialist insurer Beazley has received authorization from the Central Bank of Ireland to convert its established Dublin-based reinsurance company into an insurance company permitted to transact business throughout the...
Judge: Insurer Off the Hook for Payment in Ohio Arson Case
Jul 17 2017 // A judge has ruled that an insurance company doesn’t have to pay an Ohio man accused of burning down his house. The Hamilton-Middletown Journal-News reports the ruling came on July 14 in southwest Ohio’s Butler...
Insurers Beat Other Industries on Shareholder Value – But Can It Last?
Jul 17 2017 // The insurance sector is beating other industries on delivering shareholder value but insurers may find this more difficult to do going forward unless they adjust their game plan. According to the global management...
Trump Administration to Sign Insurance Regulation Pact with European Union
Jul 17 2017 // The U.S. Treasury Department and the Office of the U.S. Trade Representative said they will sign the bilateral agreement between the United States and the European Union regarding regulation of insurance and...
China Regulators End Insurer Deal Spree, Favoring Risk Managers, over Risk Makers
Jul 14 2017 // The revolution in China’s insurance industry that helped unleash about $80 billion of acquisitions started with a whimper and ended with a bang. With little fanfare, China’s top insurance official, Xiang Junbo,...
New Flood Insurance Company Approved in Arkansas
Jul 13 2017 // Arkansas Insurance Commissioner Allen Kerr has granted a Certificate of Authority to Florida-based Homeowners Choice Property & Casualty Insurance Company (HCPC) to offer private flood insurance in Arkansas. In a press...
Court: Insurer Must Pay Policy Limit in Wisconsin Parking Garage Death
Jul 13 2017 // The Wisconsin Court of Appeals has upheld a $39 million jury verdict against the builder of a Milwaukee parking garage where a 15-year-old boy was killed in 2010 when a concrete slab fell. But the court said that Liberty...
Esurance Co-Founder Wallace Joins Crowdsourced Insurer Reviewer Clearsurance
Jul 13 2017 // Esurance co-founder and former executive Chuck Wallace has joined Clearsurance, a crowdsourced review and ratings platform for the insurance industry, as an independent director. Wallace has held senior operating roles in...
Agents Seek Better Grasp of Carriers’ Commercial Lines Underwriting Likes
Jul 12 2017 // Independent agents want to talk about underwriting, and they’re urging their carriers to listen. Preliminary results from the 2017 Channel Harvest Research survey indicate agents want to see companies put greater...
Individual Health Insurance Market Stabilizing, Not Collapsing: Kaiser
Jul 12 2017 // Insurer financial data through the first quarter of 2017 suggest the individual health insurance market has been stabilizing and insurers in this market are regaining profitability, finds a new analysis from the Kaiser...
Carrier Poll Shows Many Agents Expect Minor Tech Disruption by 2020
Jul 11 2017 // A new poll conducted by a Seattle, Wash.-based carrier that asked independent insurance agents what’s ahead in 2020 showed that roughly half of agents expect technology disruption to have a minor impact on their...
Former Texas Businessman Gets 7 Years for Scamming London Insurer
Jul 11 2017 // A former Texas businessman was sentenced to seven years in prison and ordered to repay nearly $4 million in an insurance scam targeting a British company. Federal prosecutors say 66-year-old Wesley Michael Woodyard was...
Insurers Say Legal Malpractice Claims Hold Steady But Defense Costs Rise
Jul 11 2017 // Most leading legal malpractice insurers saw their claims level off in 2016 although their cost to defend claims continued to escalate. A study by insurance broker Ames & Gough finds that while the number of new...
How Insurers Can Tap Valuable Revenue Stream Using Their ‘Data Exhaust’
Jul 11 2017 // The chief executive officer of Quandl is on a mission to let insurance companies know that their data is valuable and professional investors will pay them for it. But a lot of insurers are oblivious to that...
Grenfell Tower Insurer, Protector Forsikring, Raises Claims Estimate to $65M
Jul 10 2017 // The insurer of London’s Grenfell Tower, where at least 80 people died in a devastating fire, raised its estimate for property and liability insurance claims to 50 million pounds ($65 million) on Friday [July...
